The Economic and Financial Crimes Commission (EFCC) has recovered a total of $104,950 for an American-based businesswoman, Mrs Adeshola Oshilaja, following an investigation into an alleged procurement fraud involving the purchase of 10 dump trucks from China.

The Commission on Friday, handed over the outstanding $56,000 to Oshilaja at its Lagos Zonal Directorate 1 in Ikoyi, bringing the total amount recovered in the case to $104,950.

The latest recovery followed an earlier payment of $48,950 made directly to Oshilaja by the defendant, Babatunde Samuel Akinsanmi.

According to the EFCC, the investigation began after Oshilaja petitioned the Commission over the alleged failure of Akinsanmi, her business associate and family friend, to account for funds provided for the procurement of the trucks.

The petitioner reportedly transferred $104,950 to two Chinese companies, Jinan Goneng Power Technology Company and China Howo Heavy Truck Industry Limited, on Akinsanmi’s instructions.

The Commission said its investigation established that both parties entered into a written agreement on July 25, 2023, under which Akinsanmi acknowledged receiving the sum for the procurement of the trucks and undertook to refund it on or before December 31, 2023.

However, six trucks were subsequently delivered to Akinsanmi in Nigeria.

Oshilaja alleged that he retained the vehicles for business purposes without remitting the proceeds to her.

The EFCC said it recovered the full amount of $104,950, with $48,950 paid earlier and the remaining $56,000 recovered in cash and handed over to the petitioner during Friday’s ceremony.

Speaking at the handover, the Acting Zonal Director of the Lagos Zonal Directorate 1, Assistant Commander of the EFCC, ACE I Adebayo Adeniyi, represented by the Head of Public Affairs, Deputy Commander of the EFCC, DCE Ayo Oyewole, said the recovery demonstrated the Commission’s commitment to returning recovered funds and assets to their rightful owners in accordance with due process.

He added that the EFCC would continue to investigate alleged financial crimes and pursue appropriate restitution for victims.

Oshilaja, while expressing appreciation to the Commission, commended its efforts and professionalism in handling the matter.

“I am so happy and grateful for all the effort the EFCC has put towards the recovery of this money. I am a testament to what the EFCC is doing in Nigeria, and I can always rely on the fact that you are really working hard. May God bless you all,” she said.